Another AT&T SIM swapping attack has just targeted three crypto executives that attended the Consensus 2018 and we are reading more about it in the cryptonews today.
The head of Strategy for VideoCoin Seth Shapiro alleged in his lawsuit that was filed on October 17th in the US District Court for the Central District of California that the cell carrier basically helped the hackers by granting them repeated access to his SIM card allowing them to empty out his wallets on 11 exchanges and stealing $1.8 million dollars.
In his 58-page complaint, Shapiro laid out an elaborate web of inside men in the company and an internal conspiracy and back to back SIM swaps that have already landed at least two employees at the company in a criminal court. An excerpt from the lawsuit states:
“By utilizing their control over Mr. Shapiro’s AT&T cell phone number—and the control of additional accounts (such as his email) secured through that number by utilizing two factor authentication—these third-party hackers were able to access Mr. Shapiro’s accounts on various cryptocurrency exchange platforms, including the accounts he controlled on behalf of his business venture. The hackers then transferred Mr. Shapiro’s currency from Mr. Shapiro’s accounts into accounts that they controlled. In all, they stole more than $1.8 million from Mr. Shapiro in the two consecutive SIM swap attacks on May 16, 2018.”
The lawsuit alleged that ex-AT&T employees from Tucson, Arizona played a key role in the operation. Jarrett White and Robert Jack received $4,300 and $585 from the hackers referred to in the court documents as ‘’The Community’’ to feed the six-man group a stream of insider intel. This was used as a backdoor that gave ‘’The Community’’ access to Shapiro’s cellphone according to the documents. Shapiro even stated that $1,757 million stolen, $1 million was his and the other part belonged to other people that invested in crypto projects with him.
By doing another AT&T SIM Swapping attack, the thieves targeted Chris Kitze and Fiorenzi Villani which were not mentioned in the court filing and all three executives are now partners in series of crypto PR companies. They were all attending a conference produced by the popular crypto swapping victim, Michael Terpin who also sued AT&T for a SIM heist that cost him more than $2 million.
Shapiro, Kitze, and Terpin are all members of the Pro Top Company Services and advertise crypto investment funds.
Chinese Exchange Fcoin Closes, Still Owes Users $125 Million
“This is a problem that is a little too complicated to be explained in a single sentence, the time span is also large, and the two story development lines are advancing and affecting each other at the same time, leading to the final outcome.”The Chinese exchange Fcoin is now in the cryptonews. After its launch in May, the reported trading volumes became some of the biggest in the world overnight thanks to a new business model called "transaction mining." Later on, one Reddit user reported that this volume was actually fake - which is when the problems started. The exchange was later on described as a scam by many and the suspicions about its business model turned out true. There was no airdrop nor ICO at launch and the Chinese exchange Fcoin distributed 51% of its native tokens to users for reimbursing transaction fees. The CEO of Binance, Changpeng Zhao, has publicly called FCoin a Ponzi scheme since the middle of 2018, commenting on Zhang's post in a tweet which read:
“I rarely called out anyone, with exceptions. On Chinese social media, I called FCoin a pyramid scheme in mid-2018. Their founder calls his own plan a "better invention than #Bitcoin". That did it for me. Who would say such a thing? About themselves? Except scammers.”https://twitter.com/cz_binance/status/1229446449152348161 To this, Zhang replied saying that there have been some errors which the Chinese exchange FCoin detected - but did not explain why it failed to address such problems before it is too late.
‘With the deepening of the investigation, we found a large number of existing data problems of dividends and mining returns, and these problems have existed for many days. As a result, a large number of users have already been through operations such as buying and selling various currencies and withdrawing cash, causing the pollution of assets.”The platform was suspended a few days ago by its own account for risk control, which caused a lot of speculation that the project was shutting down and the operators are vanishing. In the last few sentences on his blog post, however, Zhang said that he will do everything to give back the money to users via email personally - and compensate FCoin user losses with the profits he would make from other projects.
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Altsbit Crypto Exchange Suffers Hack Attack, Lost 95% Of Funds
‘’Unfortunately, we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen. A small part of the funds are safe on cold wallets.’’From the announcement, it seems that Altbits had almost all of the funds on the hot wallets despite their major vulnerability to malicious cyber intrusions. The Italian crypto exchange will provide a full report on the lost funds soon and we will be able to see exactly how big of damage the theft made. In the follow-up tweets of the exchange, however, can be seen that the hackers stole 1,066 Komodo tokens and 283,375 Verus coins. This combined the value of both stolen cryptos stands at about $27,000. At press time, Altsbit had a 24-hour trading volume of $14.8 million with 98% of its trading activity coming from the ARRR/BTC pair which is the native token of the pirate Chain. Reacting to the news of the hack, some of the supporters of decentralized exchanges noted the vulnerabilities of the platforms that are centralized. However, centralized platforms still command the grater trading volume as the DEX services have a notoriously hard way of navigating the user interfaces. As for the security situation with centralized crypto exchange platforms, the 2020 crypto crime reports by Chainlink show that the exchanges seem to be better equipped to deal with the hackers. Despite the increase in the number of hack attacks, the blockchain analysis firm explained that the total amount of stolen funds in the hacks declined dramatically from the previous year. One of the important strategies that exchanges use is to limit their hot wallet holdings and this will show any inside involvement since the hackers are less sable to drain the vast crypto sums from vulnerable hot wallets. The North Korean hack group Lazarus, is suspected of being behind most of the crypto exchanges in the Asian Pacific and now it seems that it is changing its attack vectors. The group utilizes phishing malware on popular messaging platforms such as Telegram.
Adobe Flash Malware Posing As ‘New Update’ Found In 1 In 10 Macs
“These links were not added by the cybercriminals themselves: we found that all those malicious domains had recently expired, and, judging by the WHOIS data, they now belong to a single individual. On the websites, the newly minted owner posted a malicious script that redirects users to Shlayer download landing pages. There are already over 700 such domains in total," the report by Kaspersky read.We advise all Mac users to run an up-to-date anti-virus program and detect for viruses such as the Adobe Flash malware before it is too late.
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